TIF

Tax Increment Financing (TIF)

Tax increment financing provides a backbone for community redevelopment. TIFs funds specific components of development in community areas classified as blighted., conservation areas, or economic development areas. TIFs often are used to cover costs associated with a redevelopment project, such as professional services fees, land acquisition, demolition of existing structures, building rehabilitation and repair, necessary new infrastructure, and relocation fo residents and businesses from the redevelopment area.

TIFs exist on the assumption that after redevelopment is completed, the property taxes in the project area will increase

and a portion of that increase in future revenue can be used by the city to pay for the project cost. The local governing body establishes a TIF commission to work with the municipality in creating a comprehensive redevelopment plan and holding public hearings. Part of this planning requires the generation of economic impact reports and revenue projections. D2 provides projections and estimates, based on our unique real world data, that helps developers and communities create an accurate schedule for applying TIF funding to a particular redevelopment plan. The process can be complicated, but with D2, it doesn't have to be.